TIDMCTEA
RNS Number : 9179R
Catenae Innovation PLC
03 July 2020
3 July 2020
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Commercial Pilot Agreement with Afrik-ID
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of
digital media and technology announces that it has entered into a
pilot agreement with Afrik-ID (Pty) Ltd ("Afrik") to establish the
commercial viability of the Company's technology products in
Botswana and across the Southern African Development Community
(SADC). Afrik is a newly incorporated company in Botswana, wholly
owned by David John Newman, the former Botswanan ambassador to USA,
Canada and the Caribbean.
Based on the use of Catenae's secure blockchain-based identity
technology, Afrik-ID's potential service offerings could enable
organisations, businesses and individuals to share certification
and identity information via mobile phones in a secure manner.
Afrik-ID's solutions could be deployed in a variety of sectors
including construction, logistics, mining, sports, healthcare,
human rights services, law-enforcement and travel and tourism.
Under the terms of the pilot agreement, Catenae will provide
Afrik-ID with its proprietary Onsite ID and Cov-ID applications for
use in Afrik-ID's sales and marketing initiative for a duration of
four months. During this period, the two companies will work
closely together, with Afrik-ID seeking to leverage its network and
the Company's technologies across the SADC region.
Following the completion of the pilot at the end of October
2020, which is not expected to generate any revenues for the
Company, a market analysis review will be undertaken to ascertain
the commercial viability of deploying the Company's technologies
across the region via Afrik-ID. Should this be favourable, the
Company will seek to enter into a commercial arrangement with
Afrik-ID.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: "We
are pleased to have entered into this pilot agreement with Afrik-ID
as we see potential for the use of our technologies across the
wider SADC region, a community comprising of 16 member states with
a combined population of over 345 million people, especially as it
is seen that Africa is a highly mobile enabled continent.
"We have every confidence in the leadership team at Afrik-ID.
Having worked with them over the last few months scoping this pilot
we have obtained insight into the scale of the challenges that the
region faces, most latterly due to the COVID-19 pandemic, along
with the associated opportunities.
"The Company looks forward to informing the market of further
developments with regards the Afrik-ID commercial pilot."
David Newman, Chairman and Chief Executive Officer of Afrik-ID
said:
"Our team at Afrik-ID is delighted to be working in
collaboration with Catenae to provide digital technology solutions
for the challenges that hamper the safe, efficient and transparent
movement of people and goods within and beyond our Southern African
region."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The person who arranged for
release of this announcement on behalf of the Company was Guy
Meyer, Interim Chief Executive Officer of the Company.
- Ends -
For further information please contact:
+44 (0)191 580
Catenae Innovation PLC 8545
Guy Meyer, Interim CEO
Cairn Financial Advisers LLP (Nominated Adviser) +44(0)20 7213 0880
Liam Murray / Jo Turner
+44 (0)20 3463
Brandon Hill Capital Limited, Broker 5000
Andy Gutmann +44 (0)78796 8313
+44 (0)20 3004
Yellow Jersey PR (PR & IR) 9512
Sarah Hollins / Annabel Atkins
Notes to Editors:
About Catenae Innovation PLC
Catenae Innovation is an AIM quoted provider of digital media
and technology services. The Company specialises in Distributed
Ledger Technology solutions that solve commercial challenges and
create opportunities for its clients. The Company has an
experienced IT team of project managers and integrators who have
deployed systems across corporate, government and educational
sectors.
www.catenaeinnovation.com
About Afrik-ID
Afrik-ID is a 100% Botswana citizen owned technology company
dedicated to bringing the best of global technology to Botswana and
SADC for the benefit of the people of the region. Their vision is
to bring technology-based secure identity solutions that include
Health, Travel and Tourism, Logistics, Industrial, Manufacturing
and Construction, Human Rights Services, Law-Enforcement and Sports
to the region.
https://afrik-id.com/
About SADC (Southern Africa Development Community)
https://www.sadc.int
SADC SELECTED ECONOMIC AND SOCIAL INDICATORS, 2018
Forward-Looking Statements
Certain statements made in this announcement are forward-looking
statements. These forward-looking statements are not historical
facts but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. Words such as 'anticipates,' 'expects,' 'intends,'
'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties, and other factors, some
of which are beyond the Company's control, are difficult to
predict, and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking
statements.
The Company cautions security holders and prospective security
holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the
date of this announcement. The forward-looking statements made in
this announcement relate only to events as of the date on which the
statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory
authority.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGREAPXAEFAEEFA
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July 03, 2020 02:00 ET (06:00 GMT)
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